Elon Musk Raises Bitcoin
Bitcoin's price jumped on Monday and broke the $ 41,000 mark after a tweet from Tesla's boss.
Marco BELLO AFP / Archivos
Text by: RFI Follow
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Elon Musk makes it rain and shine on bitcoin.
The price of virtual currency jumped on Monday, June 14 and exceeded the bar of 41,000 dollars after a tweet from the boss of Tesla.
The latter said on Sunday that his group could accept bitcoin payments again if the virtual currency becomes less polluting.
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Elon Musk undoubtedly has a definite influence on the price of bitcoin.
With this simple tweet, "
Tesla will accept bitcoin payments when they are produced with 50% renewable energy
", the billionaire has raised the price of the cryptocurrency by more than 10%.
This is inaccurate.
Tesla only sold ~ 10% of holdings to confirm BTC could be liquidated easily without moving market.
When there's confirmation of reasonable (~ 50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
- Elon Musk (@elonmusk) June 13, 2021
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To read also:
Bitcoin: a currency of the future?
Already in February, Elon Musk surprised when he announced that Tesla cars could now be paid for in bitcoins, causing the currency to take off.
A few weeks later
he did an about-face
by declaring that his group would no longer accept payments in bitcoins for the sake of preserving the environment.
Consequence: sharp fall in cryptocurrency.
Bitcoin is indeed produced by powerful computers that consume huge amounts of electricity and the majority is emitted from China which uses coal as a source of energy.
However, a greening of the production of crypto-currencies is not on the agenda for the moment.
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See also:
Bitcoin mines contradict China's zero carbon goals
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